The US Citizenship and Immigration Services (USCIS) issued a policy memorandum on May 22, 2026, signaling a major shift that would generally require foreign nationals on temporary visas to leave the United States and apply for immigrant visas at consulates abroad rather than using in‑country adjustment of status. The directive, framed as restoring the “original intent” of immigration law, treats adjustment of status as an exceptional discretionary relief. The move provoked immediate concern, especially among Indian H‑1B workers and students who face long EB‑2/EB‑3 backlogs and have relied on domestic processing to remain and work while awaiting permanent residency. After backlash, USCIS on May 23 inserted exceptions for applicants who provide an “economic benefit” or serve the “national interest,” but officials have not defined those terms. Lawyers note the memo does not change statute but alters adjudicative discretion and leaves many operational questions unanswered — including implementation timelines, criteria for exceptions and impacts on pending cases — raising the prospect of delays, stranded applicants and increased employer uncertainty.

Singapore’s economy grew 6.0% year-on-year in the first quarter of 2026, the Ministry of Trade and Industry said on May 25, revising growth well above an earlier advance estimate. On a seasonally adjusted quarter-on-quarter basis the city-state expanded 1.0%. Growth was driven by strong wholesale trade, manufacturing and finance and insurance, with robust AI-related demand lifting electronics and precision engineering clusters and boosting non-oil exports (reported up c.9.6% in Q1). The government kept its 2026 growth forecast at 2.0–4.0% but warned that downside risks had “risen significantly” amid the U.S.-Israel-Iran conflict, disruptions around the Strait of Hormuz and higher energy and input costs that have hit fuels and chemicals and prompted some firms to declare force majeure. Authorities signalled they will monitor developments and adjust forecasts if needed; the central bank has already tightened policy in April to counter inflationary pressures while Enterprise Singapore raised export growth expectations on resilient AI demand.

India's central bank said on May 25 it will do “whatever is required” to ensure orderly movements in the foreign exchange market, Reserve Bank of India Governor Sanjay Malhotra told Mint. The rupee has weakened about 6% since the West Asia war began on Feb. 28 and, by some measures, now looks undervalued in both nominal and real effective exchange rate (REER) terms. Malhotra stressed the RBI does not target a specific exchange rate level but stands ready to intervene if speculative pressures build. The central bank has nearly $700 billion in foreign exchange reserves and a toolkit to counter disorderly moves. He also flagged the need to reduce India’s current account deficit and improve the capital account. The RBI’s primary mandate remains inflation targeting; if inflation developments provide room, the bank will support growth. Malhotra said a normalisation of the West Asia situation could allow the rupee to appreciate.

Jardine Matheson said on May 25 it will acquire Australia’s I-MED Radiology Network for an enterprise value of A$3.4 billion (about $2.4 billion), buying a 100% stake from funds advised by private equity firm Permira and other shareholders. The purchase includes I-MED’s minority holding in AI developer Harrison.ai. Jardines said the deal will be funded through cash reserves and debt financing, is expected to be neutral to underlying earnings per share in the first full year after closing and accretive thereafter, and is subject to regulatory approvals with completion expected later in 2026. I-MED operates roughly 215 diagnostic imaging clinics across Australia and New Zealand, performs more than seven million procedures annually, and provides teleradiology services in Australia, New Zealand and the United States. Jardines’ chief executive Lincoln Pan described the acquisition as aligned with a strategy to invest in market-leading, growth businesses. The deal values I-MED at about 11.5 times forecast adjusted EBITDA for the year ending June 2026 (excluding the Harrison.ai stake).

India’s Commerce and Industry Minister Piyush Goyal is visiting Canada from May 25-27, 2026, heading a delegation of roughly 150 senior industry leaders to Ottawa and Toronto to accelerate negotiations on a Comprehensive Economic Partnership Agreement (CEPA) and to deepen trade and investment ties. The delegation will meet Canadian ministers, business groups, pension funds and CEOs to prioritise cooperation in energy, critical minerals, clean technology, food processing, textiles, leather and services. The visit follows a March reset in relations after diplomatic strains and builds on earlier rounds of CEPA talks; negotiators plan a third round in July in Ottawa as both sides aim to substantially raise bilateral trade and investment. Canada has nearly $100 billion invested in India and about 600 Canadian firms operate there; officials have cited post-visit targets for expanded commerce, with media reporting trade goals ranging from roughly $50 billion to $70 billion in coming years.